Commercial letters of credit are the lifeblood of international trade. For more than 85 years, the Uniform Customs and Practice for Documentary Credits (UCP) - the International Chamber of Commerce's rules on documentary credits - have governed letter of credit transactions worldwide.

UCP 600 contains important new provisions in the fields of transport, insurance and compliance, which will form the basis of letter of credit transactions for years to come.

The revised UCP includes a "Definitions" article designed to clarify the meaning of key terms, a changed practice for giving a notice of refusal and other modifications you will need to know. It also includes version 2.0 of the eUCP - the 14 articles of ICC's supplement to the UCP that govern presentation of documents in electronic form.

Since its inception, the UCP has remained a vital component of international trade. Bankers, traders, lawyers, transporters, academics and all who deal with letter of credit transactions will refer to UCP 600 on a daily basis.

Code ISBN :

978-92-842-0280-5

Number of pages :

70

Publishing date :

2007

Language :

English

Format in cm :

N/A

Contents

Foreword

ICC Uniform Customs and Practice for Documentary Credits

Introduction

Article 1 Application of UCP

Article 2 Definitions

Article 3 Interpretations

Article 4 Credits v. Contracts

Article 5 Documents v. Goods, Services or Performance

Article 6 Availability, Expiry Date and Place for Presentation

Article 7 Issuing Bank Undertaking

Article 8 Confirming Bank Undertaking

Article 9 Advising of Credits and Amendments

Article 10 Amendments

Article 11 Teletransmitted and Pre-Advised Credits and Amendments

Article 12 Nomination

Article 13 Bank-to-Bank Reimbursement Arrangements

Article 14 Standard for Examination of Documents

Article 15 Complying Presentation

Article 16 Discrepant Documents, Waiver and Notice

Article 17 Original Documents and Copies

Article 18 Commercial Invoice

Article 19 Transport Document Covering at Least Two Different Modes of Transport